CT Wave Effector is responsible for the wave-like movement, the plane can be replaced by any object

Simply move and rotate the CT Wave Effector to deform an object and create wave like shapes and motion, the CT Wave Effector has user data accessed controls for twist, width, falloff, texture and texture offset and blend, which can blend the wave around an axis, helpful for creating splashes and boat wakes.

One caveat is that the script will only work with the Studio and Broadcast Versions of Cinema 4D, only tested with C4D R14, and you can check out the CT Ocean Wave Effector for Cinema 4D here.